Texas Governor favours Bitcoin mining industry over electricity needs

The governor of Texas talked about the crypto mining companies’ support to provide sufficient energy to run the operations. 

Texas was already a better region for the crypto mining companies. But from 2020 to 2021 Texas saw a huge inflow of crypto mining firms. Thanks to the crypto ban of China, which kicked out all crypto services and mining companies out of the country. 

Greg Abbott, Governor of Texas, shared his thoughts on the energy supply needed for the crypto mining companies. He said that Bitcoin mining companies may bring better support for the state to fight against power outages. 

However, this is not the first time the governor talked about this matter. Last year, he also passed some comments to favor the crypto and crypto mining industry. He appreciated the presence of this industry as a support for the state.

Governor believes that Bitcoin miners are consuming much electricity but this may be a better reason for the energy provider companies to invest in the State. So it will not only give profit for the Bitcoin miners but also to the citizens of Texas. Governor also tried to hint at last year’s blackout in state Investment because of a lack of investor companies. 

Bitcoin miners increasing competition 

Every year the Bitcoin network hash rate is increasing and the increase in the hash rate is the meaning of an increase in competition. And this is a big sign that in the future Bitcoin mining companies will go through a big competition. 

At present, the majority of the big Bitcoin mining companies are working to create a better future for their operations with investment in better energy sources like solar panels and renewable energy resources. 

It is worth noting that El Salvador is also going to enter the Bitcoin mining competition. The government of El Salvador is working to generate carbon emission-free energy through its geothermal power plant near volcanoes. 

Read also: Beukelaer became the first European politician to accept paychecks in Bitcoin